On the other hand, Asian Paints, PowerGrid, Bajaj Auto and Dr Reddy's were among the laggards
This picture has been used for representational purpose
Also read: Sensex drops over 200 points in early trade; Nifty tests 15,700
"Selling pressure especially in financials due to concerns over asset quality dragged the market in the last couple of days. Further, mounting concerns over global growth due to recent rise in delta variant coronavirus cases in different parts of the world have weighed on sentiments. "However, we continue to believe that the underlying strength of the domestic market remains intact and therefore any meaningful correction in the market should be taken as an opportunity to get in quality stocks," he stated.
On the global front, US equities recovered sharply in the last two days as strong earnings reported by corporates and buy-on-dips in an improving economy trend overshadowed concerns with regards to spread of delta plus variants in various parts of the world, Modi added. Bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading with strong gains in mid-session deals. Meanwhile, international oil benchmark Brent crude declined 0.40 per cent to USD 71.94 per barrel.
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